copperstocks
Nevada Copper (TSX:NCU,OTC Pink:NEVDQ) filed for Chapter 11 bankruptcy protection under the US Bankruptcy Code on Monday (June 10) following an inability to secure funding or a change-of-control deal. The move comes less than a month after copper prices reached a new all-time high. The company also announced the appointment of Tom Albanese, former CEO of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), as the new chair of its board of directors following the resignation of Randy Buffington as president and CEO. Nevada Copper has faced issues at its Pumpkin Hollow asset in Nevada since 2022. In May of tha...
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Eskay Mining (TSXV:ESK,OTCQX:ESKYF) announced plans to combine with P2 Gold (TSXV:PGLD,OTCQB:PGLDF) on Tuesday (June 4) in a move it says will create a new entity focused on gold and copper exploration. The non-binding letter of intent entered by the two companies outlines a deal through which Eskay will acquire all outstanding P2 Gold shares at an exchange ratio of 0.2778 Eskay shares for each P2 share. Eskay shareholders will hold 80 percent of the merged company, while P2 shareholders will own 20 percent. Once the transaction is complete, the company will have assets in BC's Golden Triangle...
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Trident Royalties (LSE:TRR,OTCQB:TDTRF) holds a net 1.05 percent gross revenue royalty over the Thacker Pass lithium project, which was recently granted a conditional loan commitment of US$2.26 billion by the US Department of Energy. According to CEO Adam Davidson, Thacker Pass royalty receipts are expected to impact Trident’s revenue dramatically. “People invest in mining equities because 80+ percent of mines that are built extend their life or expand the production profile. But we still get exposure to that, obviously getting exposure to their revenue. If they extend the mine life, we still ...
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The first quarter of 2024 began with copper prices remaining steadfast, staying within the US$8,000 to US$8,500 per metric ton (MT) range. However, the end of the quarter saw the red metal gain momentum on the LME and surge to a quarterly high of US$8,973 on March 18 before moving to set a two-year high on the London Metal Exchange of US$9,869 on April 30. The dramatic gains came on the back of tightening concentrate supply to Chinese smelters, who cut supply as competition between upgraders caused treatment charges to fall to their lowest point since 2010. While supply for refined copper was ...
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Coming off a volatile 2023, copper started the new year trading in the US$8,000 to US$8,500 range in January and February. However, the red metal saw significant gains starting at the end of February and through March as news of production cuts from Chinese smelters began to make headlines. The cuts came as supply for concentrates became tight, sending treatment charges to their lowest point since 2010. The results of the cuts pushed the price of copper on the London Metal Exchange to a quarterly high of US$8,973 per metric ton (MT) on March 20. The price has continued to see gains and reached...
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First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) reported its Q1 results on Tuesday (April 23), revealing a net loss of US$159 million (US$0.21 per share) and an adjusted loss of US$154 million (US$0.20 per share). The company's gross profit came in at US$156 million, with EBITDA at US$180 million, both lower than last year. These downturns have been attributed to disruptions at First Quantum's Cobre Panama mine, which led to it being taken offline and placed in a preservation and safe management phase in November 2023. With those circumstances in mind, First Quantum emphasized its commitment to...
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Copper has hit record highs in recent years, and after setbacks at the start of 2024 its fortune has begun to turn. Prices rebounded to an all-time high of US$5.20 per pound, or US$11,464 per metric ton, on May 20 at the beginning of Q2 on tightening supply and increasing demand from the transition to renewable energy. In the longer term, many market watchers see tight supply and higher consumption from sectors like the electric vehicle industry creating a robust outlook for copper. Against that backdrop, the top ASX copper stocks have put on impressive year-to-date share price performances. T...
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